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Listed price in listed location currency (CAD).
$488,900

520

MLS® 40874752

Overview

Key Facts

Type Attached
Levels Residential
Size 1158 sqft
Garage 
Taxes $3,809
Days Active 0
Lot Size 
Approx. Age 2009
Avg. Price Per Sqft $422
MLS® Number 40874752

Property Address: 401-253 Lester St, Waterloo, ON, N2L3W6

Average square foot calculated using Size range provided by listing agent.

Description

253 Lester St. #401 is a turnkey student rental investment property in the heart of Waterloo’s university district. This spacious 5-bedroom, 2-bathroom condo is purpose-built for student living and delivers strong, consistent rental income with minimal effort. Just steps from Wilfrid Laurier University and the University of Waterloo, this location attracts reliable tenants year after year. The thoughtfully designed layout features approximately 1, 158 sq ft of living space, including five generously sized bedrooms, two full bathrooms, and a large open-concept common area highlighted by an L-shaped kitchen and a bright living/dining room — perfect for gatherings, study sessions, or relaxing after class (recently updated with new furniture). Condo fees include heat and water, keeping operating costs low. The building offers elevator access, a brand-new onsite laundry facility for added tenant convenience, central air conditioning, and proximity to public transit, shopping, restaurants, and all essential amenities. Street parking and additional building parking options are available. Whether you’re an experienced investor or looking for your first student rental property, this unit offers hands-off potential with current gross rental income of $42, 000 per year and under lease. Don’t miss your chance to own a worry-free (excellent onsite management available), income-generating property in one of Waterloo’s most sought-after student locations. Current income can produce a CAP rate of 6%+ after expenses.
MLS® Number40874752
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age2009
Basement
Driveway
Garage Spaces
HeatForced Air
A/CCentral Air

Extras

Microwave, Refrigerator, Stove

Price History

Last Sold Price

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Appreciation

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Avg. Days Listed

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Today, For Sale for $488,900

Multi-story building exterior featuring a mix of b
For Sale · 1 day

$488,900

MLS® 40874752

A day ago

Not Sold Yet

October 2026, For Sale for $488,900

Multi-story building exterior featuring a mix of b
For Sale · 1 day

$488,900

MLS® 40874752

A day ago

Not Sold Yet

  • Oct 17, 2026, Expired for $499,900

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Home Estimate Zoopraisal®

This property is estimated to sell between: $488,000 and $989,000.
Similar properties in this area sold on average for: $821,649
Expected to sell in 37 days. Similar properties sold in 37 days. This home has been on Zoocasa for 0 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

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